Obama chides Republicans for figuratively running up the deficit tab and then leaving without paying the bill...

"This notion that somehow we caused the deficits is just wrong. It's just not true. Anybody who looks at the math will tell you it's not true. If they start trying to give you a bunch of facts and figures suggesting that it's true, what they're not telling you is they baked all this stuff into the cake with those tax cuts and a prescription drug plan that they didn't pay for and the wars," he said.

"So all of this stuff is baked in, with all the interest payments for it, it's like somebody goes to the restaurant, orders a big steak dinner, martini, all that stuff and then just as you're sitting down, they leave and accuse you of running up the tab. That's what they do," he said.